Bankers successfully lobbied for increased scope for borrowing

ilovesleep

Its reported in politics.ie that the irish times reported yesterday - sat 12th of feb - that bankers successfully lobbied for increase scope for borrowing in 2006 and brian cowen was finance minister.

Increasing scope for borrowing would have added fuel to the fire in the overheating of the economy, would it not?

Im on boards mobile so cant provide a link to the irish times piece.

Scofflaw

http://www.irishtimes.com/newspaper/finance/2011/0212/1224289634645.html

There's also a Sunday Business Post article on the same subject, but that won't be available online for a week.

cordially,
Scofflaw

liammur

ilovesleep wrote: »

Its reported in politics.ie that the irish times reported yesterday - sat 12th of feb - that bankers successfully lobbied for increase scope for borrowing in 2006 and brian cowen was finance minister.

Increasing scope for borrowing would have added fuel to the fire in the overheating of the economy, would it not?

Im on boards mobile so cant provide a link to the irish times piece.

In fairness to the bankers, they didn't have to lobby too hard at all, as the government wanted them to lend out more to further fuel the property bubble.

Poly

More evidence that we were sold down the river by this cosy cartel. Sickening

femur61

Bloody Bertie.